Practical Retail Solutions Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 09058202 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 27 May 2014 to 31 August 2015

for

Practical Retail Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A P Winstanley

C A Shaw

S N Fox

REGISTERED OFFICE:

6 Nottingham Road

Long Eaton

Nottingham

Nottinghamshire

NG10 1HP

REGISTERED NUMBER:

09058202 (England and Wales)

ACCOUNTANTS:

Phipp & Co (Accountants) Limited

6 Nottingham Road

Long Eaton

Nottingham

Nottinghamshire

NG10 1HP

FIXED ASSETS

Tangible assets

2

129,793

CURRENT ASSETS

Debtors

134,646

Cash at bank

4,877

139,523

CREDITORS

Amounts falling due within one year

62,223

NET CURRENT ASSETS

77,300

TOTAL ASSETS LESS CURRENT LIABILITIES

207,093

CREDITORS

Amounts falling due after more than one year

(46,252

)

PROVISIONS FOR LIABILITIES

(20,710

)

NET ASSETS

140,131

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

140,031

SHAREHOLDERS' FUNDS

140,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 February 2016 and were signed on its behalf by:

A P Winstanley - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to

consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease

term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

173,454

Disposals

(8,228

)

At 31 August 2015

165,226

DEPRECIATION

Charge for period

35,436

Eliminated on disposal

(3

)

At 31 August 2015

35,433

NET BOOK VALUE

At 31 August 2015

129,793

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 were issued during the period for cash of £ 100 .